Summary Possession
Definition of "Summary possession"
Act of actual eviction or removal of a lessee from a property. The eviction may be either voluntarily through due process of law or involuntarily by force. This generally occurs when a lease is violated by a lessee for nonpayment of rent.
Popular Real Estate Terms
A loan in which the entire charge is subtracted up front from the face value of a loan. The proceeds received are the face value of the loan less this deduction, which increases the ...
Stated rate of interest on the face amount of a loan or installment note. ...
Roof having two slopes or pitches on each side. The lower slope is greater than the upper slope. ...
Lessors of real estate play a crucial role in the leasing process. They enable property owners to boost their assets and profits while providing tenants access to dwelling spaces and ...
Precalculated tables providing the present values of $1 or an annuity of $1 for different time periods and at different discount rates. ...
To obtain the right through authorization to act as a legal representative and agent for another. ...
A liability that does not go beyond the owner's investment in a real estate business. A corporation and limited partners have this benefit. The stockholders of a corporation usually have ...
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Simply put, probate is a legal proceeding whereby the will of a deceased is tested for validity. The definition of probate is not known to most Americans. According to a Gallup survey, ...
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